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Next Fifteen Communications resilient in first half with "modest growth" in revenue and profit predicted

Chief executive Tim Dyson said the group had done a “good job” managing the impact of coronavirus, with a focus on boosting operating margins and cash conversion

Next Fifteen Communications Group PLC -

Next Fifteen Communications Group PLC (LON:NFC) said it expects to deliver “modest growth” in both revenues and profitability in the first half of its financial year.

In a presentation to the company’s annual meeting, chief executive Tim Dyson will add: “Overall trading remains consistent with the update provided in April, the new business pipeline remaining largely positive with a number of new assignments being won.”

The marketing and communications specialist said it has won work from Ernst & Young, the World Health Organization, Photobox and Sainsbury’s Argos as well as additional assignments from Amazon, Google and Salesforce.

Dyson said the group had done a “good job” managing the impact of coronavirus, with a focus on boosting operating margins and cash conversion.

And he added Next 15 had been “relatively insulated” from the sectors worst affected by the lockdown, though he also cautioned: “We still feel it is prudent to assume that any real recovery will not be seen until the latter part of the fiscal year.”

With net debt of just £5mln and a strong balance sheet, Dyson confirmed the group plans to return to making selective acquisitions.

“We also recognise the importance of paying a regular and sustainable dividend to our shareholders and are reviewing when to resume payments,” investors were told.

Quick facts: Next Fifteen Communications Group PLC

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Price: 1147.828 GBX

Market Cap: £1.06 billion

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